DEWITT C PATRICK 4
4 · LORAL SPACE & COMMUNICATIONS INC. · Filed Mar 9, 2009
Insider Transaction Report
Form 4
DEWITT C PATRICK
Senior Vice President
Transactions
- Award
Restricted Stock Units
2009-03-05+25,000→ 25,000 total→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit has a value equal to one share of Loral voting common stock, par value $0.01 per share (the "Stock"), and generally provides the recipient with the right to receive one share of Stock or cash equal to one share of Stock, at the option of the Company, on the settlement date.
- [F2]Mr. DeWitt's restricted stock units ("RSUs") vest on the following vesting schedule: 66.67% of Mr. DeWitt's RSUs vest on March 5, 2010, and 4.16% of his RSUs vest over each of the next eight quarters on the second Monday of each June, September, December and March, through March 12, 2012, provided Mr. DeWitt remains employed on each vesting date. Vesting is subject to full or partial acceleration upon Mr. DeWitt's death, disability or termination of employment without cause, or upon a change of control of Loral or SS/L.